What is the amount of the adjustment

Assignment Help Accounting Basics

Reference no: EM131884358

Question: On 12/31/5, Mocha-Cola determined that its deferred tax liability was $950,000. The tax rate is 35% for 2015 and 40% for 2016. As of 12/31/16, Mocha-Cola has determined that its deferred tax liability is now $300,000. What is the amount of the adjustment that Mocha-Cola will make:

a) To its balance sheet?

b) To its income statement?

Reference no: EM131884358

Questions Cloud

How is bitcoin separate from blockchain : How is bitcoin separate from blockchain? Is Bitcoin an asset, a commodity, or currency? Does it matter? How does one buy bitcoins?

What is the amount of interest to be paid annually : Assume Disney Studios is offering a corporate bond with a face value of $1,000 and an annual coupon rate of 12 percent. The maturity period is 15 years.

Describe the prison where your prisoner was incarcerated : Compare and contrast the characteristics of the previously listed individuals.Describe the problems associated with the prisons used to incarcerate these.

Firm marginal cost of capital at total investment level : What is the firm's marginal cost of capital at a total investment level of $67 million?

What is the amount of the adjustment : On 12/31/5, Mocha-Cola determined that its deferred tax liability was $950,000. The tax rate is 35% for 2015 and 40% for 2016.

How leaders approach and deal with the media during crisis : Discuss how emergency management training either assisted or could have assisted with the overall emergency management approach.

What would be the cost of new equity : New stock can be sold to the public at the current price, but a flotation cost of 15% would be incurred. What would be the cost of new equity?

What was the present value of austin obligation : On 12-31-13 Austin entered into an agreement that required Austin to pay a supplier $600 every year on 12-31 until 2029. The agreement required Austin to make.

What diagnosis should samual give charlie and amanda and why : What diagnosis should Samual give Charlie and Amanda? Do you think it is unethical or illegal for samuel to give Charlie or Amanda one diagnosis or another?

User Account

All Pages